Gas Power Airpower is an advanced integrated industrial gas solutions provider with business in China.

According to Frost & Sullivan, China is one of the largest and fast-growing industrial gas markets in the world. The Group and Baosteel Gas have an important industry position in the field of industrial gases in China: in 2020, the merger of the Group and Baosteel Gas accounted for 12.6% of the market share; in China's independent industrial gas market, it accounted for 22.3% of the market share; in China In the independent on-site gas supply market, it accounts for 37.7% of the market share.

At the same time, among domestic industrial gas companies, gas power airpower is the pioneer and leader in hydrogen production, and has regarded hydrogen energy as a strategic development goal to fulfill the company's ESG mission and seize the long-term growth opportunities brought by carbon neutrality. Thanks to the good macroeconomic situation, attractive project economy, long-term cooperative customer base and diversified business development capabilities, the revenue of gas power airpower and EBITDA reached the annual compound growth rate respectively from 2016 to 2020. 17.72% and 19.83%.

The company has three main business lines:

1. On-site gas supply business. In 2020, the on-site gas supply business line accounted for 65.3% of the company's total revenue. The company provides end-to-end industrial gas solutions to on-site gas supply customers, including air gases (mainly oxygen, nitrogen and argon) and special gases. The company designs, builds, owns, operates and maintains gas production facilities located in or adjacent to these customer sites to directly supply air and gas products. The company will enter into a final MTOP gas supply contract with customers, which stipulates the minimum purchase volume requirements and cost transfer characteristics to obtain a reliable source of EBITDA with a stable profit margin.

2. Retail business. Usually grows with the growth of the overall economy. In 2020, the retail business line accounted for 14.7% of the company's revenue. The company mainly utilizes the incremental and residual production capacity of on-site gas production facilities, supplemented by some small and medium-sized specialized production facilities, and supplies air gas and special gases to retail customers through tankers and trucks.

3. Clean energy business. The company produces hydrogen, synthesis gas, as well as value-added clean energy products such as liquid ammonia and methanol. The company's application of Tsinghua furnace technology has reduced carbon dioxide emissions and enabled the company to consolidate air, hydrogen and synthesis gas production capacity. Since 2018-2020, the company's clean energy business line's revenue has increased significantly, accounting for 19.7% of the company's revenue in 2020.